Wednesday, January 22, 2014

B.R.Ambedkar, the Greatest Free Market Economist of India

Socialist myth: when people do talk about his economics, but it is about his opposition to capitalism and socialist leanings. This is a myth forwarded by dalits to further their own agenda.In fact, Ambedkar did not oppose free-markets but was himself an advocate of free-markets!!

Dalit politics: his economics is ignored by the mainstream and misrepresented by the dalits community because it is contrary to the socialist politics in India.

True free-market capitalist: those who know about his economics downplay it but he was free-market economist even before Austrian Economists like F.A.Hayek, etc.

Significance of Ambedkar’s economics today: in the heyday of economic reforms in India, we need to rediscover the Ambedkar’s economics, especially his ideas of free-market principles, to empower the dalits and raise them from deep ignorance.